Category Archives: What’s Up Doc / Govdocs

There’s a program that could give your business a big jump in snagging federal government contracts — and the SBA can help you take advantage of it.

Why would you want to sell your great products and services to the biggest buyer in the entire world?  Here’s eight reasons why getting certified as an 8(a) small business could mean big business.

• The federal government buys everything, from janitorial services to logistics support and everything in between, to the tune of more than $500 billion a year (that’s billion with a B)
• Did you know contracting agencies are required to set aside a certain percentage of all contracts to small businesses, including those with special socio-economic certifications?  That gives you the chance to compete with larger contracting firms on a more equal basis.
• If you qualify, you can bid for sole-source contracts up to $4 million for your goods and services, and up to $6.5 million in contracts if you’re a manufacturer.
• You can team up with another business as a joint venture to bid on contracts, allowing you to get more lucrative jobs together as a prime contractor.
• Your business can team up with a more experienced prime contractor and have greater access to financing and successful bids under a Mentor-Protege agreement.
• You can get specialized business training, counseling, marketing assistance and high-level executive development from SBA’s resource partner help that other companies just can’t get.
• Get known to potential purchasers.
• And, by getting certified as an 8(a) firm, you’ll be eligible to buy surplus government property, like desks, computers, tractors, heavy equipment and more, at the same price as government agencies can.

Come learn to see if you qualify, how to apply and leverage your certification.

Sign up now for SBA Certifications: 8(a), Hubzone and ED/WOSB
May 27, 9:30-11:30 a.m.
SBA Nebraska District Office, 10675 Bedford Ave., Suite 100, Omaha 

They’ll briefly cover the SBA’s other certification programs, EDWOSB and HUBZone, in addition to the 8(a) program. You will learn:

• Program Details
• Eligibility Requirements
• Benefits
• SBA Assistance to 8(a) firms
• Application process.

Register online at the SBA Event Calendar.

Agriculture Secretary Tom Vilsack announced yesterday the USDA’s plan to implement a Farm Bill provision that will have a major policy impact on the way the Department helps rural communities plan and finance regional economic development strategies. The new Regional Development Priority (RDP) policy will make it easier for rural communities to access resources to invest in long-term community development efforts by giving priority to applications for Rural Development programs that include regional partnerships and strategies.

“Regional planning maximizes the effectiveness of our investments in rural America,” Vilsack said here today while addressing the 10th Annual Organization for Economic Cooperation and Development (OECD) Conference. “When communities come together to share resources, ideas and expertise, they can develop a cohesive economy strategy and invest in their future. With a strategy in place, USDA-funded projects can spur regional economic transformation, increase job opportunities and improve quality of life for rural communities.”

Under the RDP, communities with multi-jurisdictional economic development plans will be able to request funding priority when they apply for loans and grants in four key USDA programs. These programs help finance a variety of infrastructure, business and community development needs. They are:

• Community Facilities Program (look for library building grants here)
• Business & Industry Loan Guarantee Program
• Water and Environmental Program and
• Rural Business Development Grant Program.

Applicants seeking priority consideration will be judged by (1) how well their funding request supports a region’s existing development plan, and (2) how well the plan addresses regional collaboration and considers other funding sources including philanthropic groups and other federal agencies. Projects that receive funding will be based on locally identified needs and growth strategies that capitalize upon a region’s unique strengths.

Vilsack made this announcement during the 10th Annual Organization for Economic Cooperation and Development Conference in Memphis, Tenn. The conference brings world leaders and policy officials from 34 countries to discuss how modern policies can help rural regions reach their full economic potential, support national growth and be globally competitive. During the conference, Secretary Vilsack reaffirmed his vision for four pillars of rural economic development.

Additional information about the funding priority was published in today’s Federal Register.

Congress authorized USDA to implement this regional approach when it passed the 2014 Farm Bill. That law builds on historic economic gains in rural America over the past six years while achieving meaningful reform and billions of dollars in savings for taxpayers.

Since the bill’s enactment, USDA has made significant progress to implement each provision of this critical legislation, including expanding access to rural credit, developing new markets for rural-made products, and investing in infrastructure, housing and community facilities to help improve the quality of life in rural America. For more information, visit www.usda.gov/farmbill.

There is a demand among entrepreneurs to find financing to get their businesses off the ground or to take the next big step in their expansion plan. Across the country, thousands of small businesses are searching for term loans, equipment financing, lines of credit, invoice financing and real estate loans to help them hire and grow.

This is where technology steps in to meet the demand. Online matchmaking services pairing lenders with prospective borrowers already comprise a multibillion dollar industry. Using the power of the Internet, commercial lenders are finding creditworthy small business borrowers, while entrepreneurs are finding loan officers who are ready to talk with them.

The U.S. Small Business Administration (SBA) is implementing this same matchmaking concept for SBA loan applications. Recently SBA Administrator Maria Contreras-Sweet announced a new SBA initiative called LINC (Leveraging Information and Networks to Access Capital). This SBA matchmaking service will help entrepreneurs connect with a lender.

The SBA spent months surveying their lending partners to discern what information they need from a prospective borrower. They have developed a simple online form with 20 questions that takes just minutes to fill out. Once completed, the form is blasted out to participating SBA lenders in an applicant’s county, as well as financial institutions with a statewide or national reach.

While a positive “hit” won’t ensure entrepreneurs will receive a loan, it will put them on a fast track because they have been pre-screened. If LINC doesn’t produce an immediate match, entrepreneurs will be directed to their local SBA adviser for additional assistance with their loan application.

The LINC matchmaking tool constitutes a huge step toward giving small business entrepreneurs access to essential sources of capital in all 50 states and the U.S. territories.

SBA is committed to becoming as innovative as the small businesses we serve. In the longer term, they also believe LINC could be modified to facilitate government contracting by connecting eligible small businesses with procurement officers, prime contractors and federal buyers. The future is now, and the SBA is proud to embrace technology to help small businesses access the capital they need to stay strong and dream big.